Answer: The amount due at the end of 3 years is approximately $ 5733.318.
Step-by-step explanation:
Since, the amount which is compounded continuously for t years is,
[tex]A=Pe^{rt}[/tex]
Where, P is the principal amount,
r = Rate of interest,
Here, P = $ 4000, r = 12% = 0.12, t = 3 years,
Hence, the amount due at the end of 3 years if the interest is compounded continuously,
[tex]A = 4000 e^{0.12\times 3}[/tex]
[tex]=4000\times e^{0.36}[/tex]
[tex]=4000\times 1.43332941456=5733.31765824\approx 5733.318[/tex]
Hence, the amount after 3 years will be approximately $ 5733.318.
